Amlak Finance PJSC, the largest publicly listed Islamic Home Finance Company offering Sharia’a solutions, and the pioneer of home finance in the UAE signed a strategic alliance with Real Estate Bank headquartered in Abu Dhabi. Amlak Finance will offer its Islamic home finance solutions for the Al Maha Tower which will be situated on Al Reem Island in Abu Dhabi. The agreement was signed by Arif Alharmi, CEO Amlak Finance and Abdul Aziz Abdullah Al Zaabi,, General Manager, Real Estate Bank.
“The strategic alliance with Real Estate Bank is a great opportunity to offer financing solutions for consumers wishing to purchase in the Al Maha Tower which will be located on the Marina Square on Al Reem Island in Abu Dhabi. Amlak aims to not only establish itself internationally, but to also expand throughout the UAE. This financing opportunity for an Abu Dhabi property alongside Real Estate Bank, an esteemed organization, is evidence to Amlak’s growing involvement in the region. We are confident that with this strategic alliance, we can together offer end-users competitive and innovative financing solutions,” stated Arif Alharmi CEO, Amlak Finance.
The strategic alliance between both Amlak Finance and the Real Estate Bank will provide end users the opportunity to purchase property with up to 90% financing in this prestigious freehold development, Al Maha Tower. The tower will include a variety of apartment styles ranging from studio apartments, one and two bedroom living spaces, to penthouses.
“Real Estate Bank is pleased to align itself with Amlak Finance to provide funding to a broad spectrum of potential buyers. Amlak Finance is a company which is equally committed to the growing role of the UAE on an international scale. This alliance is a powerful way to reiterate the part that Abu Dhabi will play in the international market,” commented Abdul Aziz Abdullah Al Zaabi, General Manager, Real Estate Bank.
The Al Maha Tower will also provide 24 hour security, and several modern touches such as intercoms, taxi call buttons, remote control lighting, home security and entry control. The island will offer schools, hospitals, and commercial facilities. The Al Maha Tower is set for completion in the last quarter of 2009.